Reliance Power Ipo — Non Receipt of Refund and shares

1. I had applied for 225 shares of Reliance Power IPO. Application NO 24131240 was handed over to Anand Rathi Securities, MHOW (MP) collection centre. Their Indore office handed over form to Standard Chartered Bank INDORE on 18-01-08. Their bid number is 1366640. The IDBI Bank MHOW, Cheque NO 400927 dated 15/1/08, in Favour of "Reliance Power IPO R” for Rs25875/- was attached to the form.

2. The amount was debited from my account on 22/1/08. I was not allotted any share neither have I received refund.

3. I sent email to "Karvy Computershare Pvt Ltd", the registrars of the issue on 14/2/08, enquiring about allotment/refund. They informed me "Escrow bankers had informed them that the cheque/demand draft submitted along with the bid-cum application has not been realised". They further advised me to verify with my banker regarding the status of payment and revert to them in case the cheque/demand draft issued/lodged by me was found as paid.

4. This a was shock to me, as money had been debited from my account. I reconfirmed from IDBI bank. They informed me amount was transferred to Standard Chartered bank, Indore on 22/1/08 through Indore clearing center. The bank also gave me photocopy of cheque with standard chartered bank Indore stamp on it.

5. I informed the above, to Registrar of the issue number of times. I have also sent scanned copy of receipt for application and cheque paid to Standard Chartered bank Indore. However the registrar of issue either writes stating, that form is not traceable, or ask for same details which have been sent in past. They once asked for my bank statement. The sender has no name and all mails are received from reliancepower.[protected]@karvy.com.

6. I collected some email addresses of executives from, http://www.karve.com/ and send copies of mail to them, hoping some body in the organisation will give satisfactory reply. It was of no use.

7. I launched complaint on SEBI web site, I was to get some card but nothing has happened. This web site is erratic. I have send emails to SEBI, these haven’t been acknowledged.

8. I had also approached Anand Rathi securities office at Indore. They had no information and express in ability to help me. Only information I gathered was that over a lakh applicants have some problem or other and I should wait.

9. The cheque was encashed, by Standard Chartered bank Indore. The registrar had quoted Escrow bank, which, as I could conclude, is standard chartered bank. It looks as if my cheque after encashing was credited to different person This is foreign bank and I thought their reputation was involved. I therefore send email to customer care explaining the problem and what registrar has written to me. The reply came to me advising I should contact registrar. The registrar was pointing to Escrow bank and Escrow bank was telling me to go to registrar. The bank was not concerned about likely mistake. I again searched bank’s web site found more email addresses and send complaint and scanned copy of receipt and cheque to “Head Customer Care “, some one has now acknowledged and asked me to wait till 15 march.